InVitae Corp (NASDAQ:NVTA) Downgraded to “Sell” at BidaskClub
BidaskClub cut shares of InVitae Corp (NASDAQ:NVTA) from a hold rating to a sell rating in a research note published on Thursday.
Several other analysts have also issued reports on NVTA. Benchmark Co. reaffirmed a buy rating and issued a $16.00 target price (up previously from $11.00) on shares of InVitae Corp in a research note on Monday, April 3rd. ValuEngine raised InVitae Corp from a strong sell rating to a sell rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered InVitae Corp from a hold rating to a sell rating in a research note on Tuesday, July 18th. Four analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $12.69.
Shares of InVitae Corp (NASDAQ:NVTA) traded down 1.9990% on Thursday, reaching $9.3199. 109,084 shares of the company were exchanged. The stock’s 50-day moving average is $9.47 and its 200 day moving average is $9.73. The firm’s market capitalization is $394.36 million. InVitae Corp has a 12-month low of $5.76 and a 12-month high of $11.88.
InVitae Corp (NASDAQ:NVTA) last issued its earnings results on Tuesday, May 9th. The medical research company reported ($0.64) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.04. The business had revenue of $10.34 million during the quarter, compared to analyst estimates of $10.90 million. InVitae Corp had a negative return on equity of 119.10% and a negative net margin of 260.48%. InVitae Corp’s revenue for the quarter was up 161.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.80) earnings per share. On average, analysts forecast that InVitae Corp will post ($2.39) EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in NVTA. TIAA CREF Investment Management LLC raised its stake in InVitae Corp by 32.8% in the first quarter. TIAA CREF Investment Management LLC now owns 121,549 shares of the medical research company’s stock worth $1,344,000 after buying an additional 30,039 shares during the period. Wellington Management Group LLP raised its stake in InVitae Corp by 0.6% in the first quarter. Wellington Management Group LLP now owns 3,974,227 shares of the medical research company’s stock worth $43,955,000 after buying an additional 25,100 shares during the period. American International Group Inc. raised its stake in InVitae Corp by 31.3% in the first quarter. American International Group Inc. now owns 17,174 shares of the medical research company’s stock worth $190,000 after buying an additional 4,090 shares during the period. Trexquant Investment LP bought a new stake in InVitae Corp during the first quarter worth $200,000. Finally, Gamco Investors INC. ET AL bought a new stake in InVitae Corp during the first quarter worth $316,000.
InVitae Corp Company Profile
Invitae Corporation utilizes an integrated portfolio of laboratory processes, software tools and informatics capabilities to process deoxyribonucleic acid (DNA)-containing samples, analyze information about patient-specific genetic variation and generate test reports for clinicians and their patients.
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